Tidewater Renewables (TSE:LCFS) Hits New 1-Year High – Here’s Why

Shares of Tidewater Renewables Ltd. (TSE:LCFS) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$13.46 and last traded at C$13.29, with a volume of 18481 shares trading hands. The stock had previously closed at C$12.31.

Analysts Set New Price Targets

LCFS has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their target price on Tidewater Renewables from C$7.50 to C$12.50 and gave the company a “sector perform” rating in a research note on Friday, May 8th. National Bank Financial lifted their price objective on Tidewater Renewables from C$8.00 to C$13.25 and gave the company a “sector perform” rating in a report on Friday, May 8th. Finally, ATB Cormark Capital Markets boosted their price objective on Tidewater Renewables from C$8.00 to C$12.00 and gave the company a “speculative buy” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tidewater Renewables currently has an average rating of “Hold” and a consensus price target of C$12.58.

Tidewater Renewables Price Performance

The company has a current ratio of 1.13, a quick ratio of 0.10 and a debt-to-equity ratio of 120.55. The firm has a market capitalization of C$481.75 million, a price-to-earnings ratio of 59.95 and a beta of -0.39. The company’s 50 day moving average is C$10.75 and its 200-day moving average is C$7.09.

Tidewater Renewables Company Profile

Tidewater Renewables is a multi-faceted, energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel and sustainable aviation fuel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomasses) into low carbon fuels.